Godrej Properties Q4 profit drops 35 pc to Rs 101 crore

Mumbai (Maharashtra) [India], May 11 (ANI): Realty major Godrej Properties said on Monday posted 35 per cent fall in its net profit at Rs 101 crore for the quarter ended March 31.
It had posted a net profit of Rs 157 crore in the same quarter last year.
The total income increased by 5 per cent to Rs 1,261 crore during the quarter from Rs 1,200 crore in Q4 FY19.
Revenue of the real estate major declined by 10 per cent to Rs 1,163 crore in Q4 FY20 from Rs 1,053 crore in Q4 FY19.
Shares of Godrej Properties closed 0.41 per cent higher at Rs 619.95 per unit after the announcement of financial results.
“Due to the nationwide lockdown, existing construction activity has come to a halt which will extend construction timelines,” the company said in a statement. (ANI)